BACS Funding Deficit / Account Balance Offset Live

You could, of course, BACS the difference - then, once that's been received and processed, offset what's left.

I think we promise to pay 'the exact same amount' as deposited. It might just confuse SS a bit if a BACS transfer is sent that does not match the deposit amount nor the BACS deficit.  It also makes me wonder how long someone could 'get away with' not offsetting the BACS deficit.  It usually takes a couple of days for a BACS transfer to be received by SS and to be processed and applied to the account. With the current liquid SM it is of course tempting to wait until the BACS transfer has been processed and then sell the balancing loan part amount. After all it should only take a few minutes. Is that abuse or is it a case of shrugging and saying that a BACS transfer would have taken that long anyway? What if the SM becomes less liquid and loan parts become more difficult to sell?  Is there an expectation that the funds would be available for offset before sending the balancing BACS payment?  If we could partially offset the BACS deficit before sending the balancing BACS payment, I just think it makes things a bit clearer.

Let's say you've made a deposit or a pre-fund's been allocated, and you have a deficit. You send money to cover that. Whilst the money's en route, a loan repays or a part sells or you receive interest payments. If it was auto-offset, your BACS payment is now for the wrong amount. Will it match up successfully? If you want to buy a part in the meantime, do you make another deposit or do you wait for the existing money to arrive and give you a surplus?

Still think it would be simpler to do away with the "Cashier - Deposit" process and instead ask Lenders to key in notification of the precise amount they are transferring from their bank account at the point they do so, just as several other platforms do (FS, MT, ReBS, etc.). That way the banking reconciliation should be very simple, or even automated.

You'd still be permitted to buy instantly into both new and existing SS loans on "48 hours credit", with the "Available funds" balance in your account becoming the running total of loans bought / sold and cash deposited / withdrawn (ie. could be either positive or negative). Lenders would still be asked to clear any negative balance within 48 hours, either by transferring in additional funds or selling down loan parts already held.

Not when a BACS deficit is "created" by SS at the point a new loan is launched and so can end up as any random figure. I only ever transfer round figures into my P2P accounts so it's straightforward to keep track of how much is in each.
Also, when selling down other loan parts around the time of a new loan launch (as today), the "created" BACS deficit is rendered out of date as soon as any other released cash clears into Available Funds.

If you've sold loan parts since an automated BACS deficit was created by a pre-funded loan, the solution is simple.

1. Create a deposit in the normal way for a round figure that exceeds the difference you still need to pay.
2. Do a BACS transfer for the amount of the deposit you've just created.
3. When that new BACS payment is reconciled by SS your funds balance will exceed the outstanding automated BACS deficit and you can offset it, and the original automated deposit will then disappear from your "Transactions" page.

I think the important thing as far as SS are concerned is that the BACS transfer you make is exactly the same as a deposit on your "Transactions" page.

Perhaps when SS reconciled the BACS transfers and found the one for your account didn't match a Transaction page deposit they created one for you and hence the Deposit Confirmation email you received.
I agree - it would be nice to receive some clarification from savingstream on how they would prefer us to proceed in these circumstances, as it's going to be a situation which occurs with most investors from now on with pre-funding.